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Insurance Policies Which Are Must For Everyone

Life/Term insurance

The topic of death is something that is considered taboo in any society and we avoid any conversations around it. However, the death of a person leaves a void in his/her family that can never be replaced. If the person was also the sole earning member of the family, their family would be financially crippled too. To combat this and ensure that your family is able to lead a life of dignity, beyond your passing (God forbid), life or term insurance becomes absolutely necessary. In the event of death, this insurance policy will result in a lump sum benefit to the bereaved or a survival benefit in periodic instalments.

Health insurance

Healthcare costs are always on the rise and seem to have skyrocketed over the past decade. Buying health insurance is the only way to protect your wallet from the steep cost of healthcare. The easiest way to get health insurance is through group insurance policies at your workplace.  Family-floater health insurance policies provide coverage for the whole family. Critical illnesses such as cancer, heart disease and other complications require critical illness plans that provide a broader coverage than typical health insurance plans. Health insurance covers cost incurred during treatment, ambulance costs, diagnosis, theatre charges and other miscellaneous expenses towards your healthcare in the event of disease or sickness.

Motor insurance

According to the Motor Vehicles Act (1939), third party motor insurance is compulsory for all vehicles plying on Indian roads. Therefore, motor insurance has become a compulsory insurance policy. It is to be recognized that third party insurance only covers third party damages and does not cover damages to your vehicle. Therefore, it is wise to invest in comprehensive motor insurance policies that provide complete coverage ensuring that cost of repair and replacement of vehicle is reimbursed completely provided the cost is within the sum insured limit.

Please note that all these policies will have to be renewed periodically. While purchasing insurance, please compare multiple plans and read the policy brochures and documents carefully. HDFC ERGO offers a wide range of plans for you to choose from for all your insurance needs. So, head on over to their website and get yourself covered for complete peace of mind!

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before going ahead with the purchase